Chipotle Mexican Grill (CMG) FY2023 results: revenue $9.9 billion, up 14.3% on the year
Chipotle Mexican Grill Inc. (CMG) reported revenue of $9.9 billion for fiscal 2023, the year ended 31 December 2023, up 14.3% on the year before. Net income was $1.2 billion, up 36.7%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$9.9 billion
+14.3% on the year
FY2016FY2023
Operating margin
15.8%
13.4% a year earlier
FY2016FY2023
Net income
$1.2 billion
+36.7% on the year
FY2016FY2023
Diluted EPS
$0.89
+38.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,783
1,323
1,282
+34.8%
Capital expenditure
561
479
442
+17.0%
Free cash flow
1,223
844
840
+44.9%
Free cash flow margin
12.4%
9.8%
11.1%
Cash from investing
-946
-830
-522
Cash from financing
-661
-929
-549
Depreciation and amortisation
319
287
255
+11.4%
Share-based compensation
124
98.0
176
+26.5%
Buybacks
592
830
466
-28.6%
Diluted shares, weighted
1,386m
1,403m
1,426m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,062
2,368
2,297
+29.3%
Debt
0.0
0.0
0.0
Operating lease liabilities
3,804
3,495
3,302
+8.8%
Other liabilities
1,179
1,064
1,054
+10.7%
Total liabilities and equity
8,044
6,928
6,653
+16.1%
Fixed assets
2,170
1,951
1,769
+11.2%
Goodwill
21.9
21.9
21.9
0.0%
Investments
1,299
903
535
+43.9%
Trading assets
n/a
n/a
19.3
Cash and equivalents
561
384
815
+46.0%
Receivables
116
107
99.6
+8.1%
Inventory
39.3
35.7
32.8
+10.2%
Other assets
3,838
3,525
3,359
+8.9%
Total assets
8,044
6,928
6,653
+16.1%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.